Austin Real Estate Market Report For March 2012
The Overall Austin Market:
The Overall Austin Market:
Sales of existing homes in the Austin area rose 15 percent in March, marking the 9th consecutive month of increases. For the year, the number of home sales is up 13 percent over 2011, and the average sold price increased 1% to $249,207.
Always at or near the top of most lists, Austin achieved a couple of second-place rankings recently. The Census Bureau listed Austin as the nation's second fastest growing metro area between April 2010 and July 2011, with a 3.9 percent population increase. Yahoo News named Austin as the second best place to buy a house.
For the ninth month in a row, home sales in Austin have exceeded the year before. There were 6,898 homes on the market in March, which is 20 percent less than a year earlier. This much of a shortage in inventory represents a major opportunity for Sellers
If you average the number of sales for the last 12 months and divide that figure into the number of current active listings, the result is called the number of Months of Inventory (MOI). In a balanced market, the MOI is between 3.5 and 4.5 months. This important figure is included for the Austin area and in each submarket below:
The Austin Real Estate Market:
Average sold price - up 1% from a year ago to $249,207
Number of Sales YTD 13% greater than this time last year
Number of Active Listings down 20% from last March to 6898 listings
Active Listings compared to last month a 2.7% increase
Months of Inventory steady at 4.9 MOI; a slight oversupply
Average days on market 85 days to sell; 11% less than last March
The Georgetown Real Estate Market:
Average sold price 8% more than a year ago at $232,457
Number of Sales YTD up 26% compared to this time last year
Number of Active Listings 4% less from last March to 572 listings
Months of Inventory - there is 6.7 months of inventory; an oversupply
The Round Rock Real Estate Market:
Average sold price up 2.8% from last March to $212,286
Number of Sales YTD up 9.5% compared to this time last year
Number of Active Listings 27% less than last March to 551 listings
Months of Inventory slightly favoring sellers at 3.3 MOI
The Pflugerville Real Estate Market:
Average sold price up 2% from a year ago to $157,236
Number of Sales YTD up 15% compared to this time last year
Number of Active Listings 29% less than last March at 298 listings
Months of Inventory - there is a balanced 3.8 MOI
The Cedar Park & Leander Real Estate Market:
Average sold price up 3. 2% to $206,489
Number of Sales YTD up 22% from this time last year
Number of Active Listings down 24% from last March to 471
Months of Inventory balanced at 3.7 months
The North & Northwest Market:
Average sold price up 2.6% from a year ago to $298,441
Number of Sales YTD up 9.4% from this time last year
Number of Active Listings down 33.7% from last March to 224 listings
Months of Inventory decreasing to 2.4 months; slightly favoring sellers
The River North (FM 2222) Market:
Average sold price 12% less than a year ago to $503,082
Number of Sales YTD down 10% compared to this time last year
Number of Active Listings up 2% from last March to 222 listings
Months of Inventory up to 6.3 MOI; a slight oversupply
The Austin Westlake Market:
Average sold price up 3.7% from a year ago to $743,425
Number of Sales YTD down 16% compared to last March
Number of Active Listings off 18% from last March at 186 listings
Months of Inventory up to 5.6 MOI; a very slight oversupply
The Southwest Austin Real Estate Market:
Average sold price up 2.8% from a year ago to $231,946
Number of Sales YTD up 23% compared to this time last year
Number of Active Listings down 43.7% from last March to 309 listings
Months of Inventory a market favoring sellers at 2.2 MOI
Lake Area (South shore) Real Estate Market:
Average sold price down 4.7% from a year ago to $416,759
Number of Sales YTD up 16% compared to this time last year
Number of Active Listings off 8.6% compared to last month to 523 listings
Months of Inventory rising to 9 MOI, an oversupply
Thanks for visiting and be sure to contact me with any questions! I will be pleased to provide you with a complete analysis of a property's value using the latest comparables and market information.
by: Mary B
Rapid Growing Industries In India - Mumbai Real Estate Positive Trends In Real Estate Market Of Bangalore Indian Real Estate Ireo Victory Valley Gurgaon +91 9811 999 666 Real Estate Gurgaon Real Estate Consultants How Are Foreclosures Beneficial For Real Estate Investors The Key Reason Why Traders Will Need To Spend On Vero Beach Luxurious Real Estate What To Consider When Looking For A Real Estate Lawyer Importance Of Professional Help In Real Estate Huntsville Real Estate Market In Mumbai Real Estate In Marbella Find The Best Property For The Best Price With Altavista Property Apartments In Gurgaon +91 9811 999 666 Real Estates Gurgaon How So Mnay Peopele Use A Commercial Real Estate Agent